Glorang secures $10 million in Series A to expand its education technology market in Asia

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GlorangA Seoul-based education technology startup that offers extra-curricular activities and extra-curricular activities via the Internet for students aged 3 to 18, said Friday it has raised $10 million Series A funding co-led by Korea Investment Partners and Murex Partners, together with the Japanese Pksha Capital.

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The new funding, which brings the total raised to $18 million, values ​​Glorang at around $40 million, Glorang CEO and founder Taeil Hwan told TechCrunch.

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The startup has aspirations to become out school Asia. Hwang said his business model is similar to Outschool, a San Francisco-based marketplace for kids after school. Glorang will use the A-series to expand its services to Japan and Malaysia by the fourth quarter of this year, and to Taiwan, Thailand and Vietnam in subsequent years, Hwang said. In addition, it is planned to increase the staff.

“The education market in the English-speaking and North American regions is undoubtedly large, but we [at Glorang] understand that each country’s local D2C education market in Asia can be just as significant,” Hwang said.

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The coronavirus pandemic has forced students in many parts of the world to study online; tThe education technology industry has experienced a sudden surge and demand around the world due to the pandemic. Asian-Pacific area is one of the fastest growing regions for Edtech adoption, growing to $64.5 billion in 2027from $17.6 billion in 2019.

Glorang was founded in 2017 by Hwang, who started the company with an AI-powered platform to help students qualify for study abroad programs. Prior to the COVID-19 pandemic, Glorang changed its core business, an online classroom platform, and launched Gguge in 2020, Hwang said. The company claims that Gguge has over 100,000 users in South Korea.

What sets Gguge apart from its peers is the provision of educational services in local languages, Hwang said, adding that it currently offers Korean but will add Japanese soon.

Gguge offers a choice of over 5,000 online classes via Zoom. Instructors help students use active learning methods, from reading newspapers and solving puzzles to incorporating Minecraft and Pokemon games into classes.

“As a team that understands both local culture and strategies in Asia, we are confident that our platform will have a strong position in the ever-growing D2C education market in Asia,” Hwang said.

Students can attend one-day classes or semester subscription classes through Gguge. The company has a team of 35 people in Korea.


Credit: techcrunch.com /

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